How do I apply for a VISA Debit Card?
To receive a VISA Debit Card, you must have an WV Air National Guard FCU Share Draft Account.
Are there fees for using this card?
There is no annual fee for the VISA Debit Card. Some ATMs may apply a surcharge to your transaction- this is charged by the company who owns the ATM, not by WVANGFCU.
What if I lose my Visa Debit Card?
Notify us immediately at (304) 342-2422 or 1-877-820-9924. If it is after hours, call 1-800-500-1044. Notify us as soon as you are aware that your card is missing to minimize your liability.
What accounts will the VISA Debit Card access?
A Visa Debit Card will access only the share draft checking account.
Can I order a VISA Debit Card for a member of my family?
Yes, providing they are joint signers on the account.
What are the benefits to using my VISA Debit Card?
Your VISA Debit Card is like carrying an electronic checkbook. It is safer, faster and smarter than using cash or checks for purchases. There is no need to carry extra cash or wait for check approval, and no additional identification is necessary. Best of all, there is no bill to be paid later for these purchases, because the amount is taken directly out of your share draft checking account.
How is a VISA Debit Card transaction processed?
Just like a VISA Credit Card transaction - most merchants will assume that it is a credit card. Either you or the merchant swipes the card through the reader and receives authorization either electronically or by phone. Once authorized, you will be asked to sign the sales slip like any other VISA transaction.
Is my signature always required when making a purchase with the VISA Debit Card?
It depends on the situation. For face-to-face transactions, you can use your card to make purchases by signing a sales receipt. When the card is used to make purchases via mail, telephone, or on the Internet via a merchant's web site, no signature is needed; however, providing the proper billing address to the merchant is very important, as the address will usually be verified. Some gas stations with "pay-at-the-pump" capabilities do not require a PIN or signature.
When I try to pay for an item with my VISA Debit Card, the merchant asks me 'Debit or Credit'. Which do I choose?
Select the Credit option, you will not be asked for a PIN, but will sign the sales slip like any other VISA transaction, and the amount will be deducted from your checking account.
How long will it be before the money is deducted from my WVANGFCU Share Draft Checking Account?
That depends on the merchant. Some merchants will hold their debit transactions for several days before they are presented for payment. Don’t assume your transactions will be posted the same day, even though most are.
Is there any way to access my account once I've reached the daily limit for my VISA Debit Card?
Yes. You can still write as many checks as you wish, provided that you have the funds in your checking account to cover them.
Can I get a VISA Debit Card if I only have a savings account?
No. VISA Debit Card transactions are processed as if they were electronic checks, so the card must be attached to a share draft checking account.
Will I have to show identification to use my VISA Debit Card?
For routine transactions, all you will need is your Debit Card. For larger transactions, the merchant may require an additional piece of identification for your protection.
Where is the VISA Debit Card accepted?
Anywhere that VISA is accepted - over 14 million locations worldwide.
Can I get cash back on my VISA Debit Card?
Yes - many merchants, such as grocery stores, will allow you to get cash back in addition to the purchase amount if you have adequate funds on deposit. You can even get cash back from most other financial institutions that display the VISA logo.
Do I have to sign the back of my VISA Debit Card?
Yes. The card must be signed to be valid. Signing the card will also aid in protecting you against unauthorized use in the event you lose your card or it is stolen. Please note, writing 'See Photo ID' on the back of your card in lieu of signing it may render the card unacceptable at some merchant locations. VISA regulations require a valid signature.
How do I keep track of my spending with the VISA Debit Card?
Simply save your receipts and enter the amount of each purchase or transaction into your check register or check your account information using our home banking. You get a detailed record of each transaction on your monthly share draft checking account statement, so it's easy to know what you spent and where you spent it!
How long will it take to receive my VISA Debit Card?
You should receive your new VISA Debit Card within two weeks of it being ordered. If you have not received it within two weeks please call (304) 342-2422.
My card was good when I checked into the hotel for a week, but it was not good for a small purchase later that evening. Why?
The most likely cause is that after we placed the 'hold' for the amount of the authorization requested by the hotel, there were not sufficient additional funds for the second transaction.
Will my VISA Debit Card work on the Internet?
Yes - your VISA Debit Card will be honored by any merchant on the Internet who displays the VISA logo.
Is my VISA Debit Card safe to use on the Internet?
Yes, with reasonable precautions. On the Internet, as in face-to-face transactions, you want to do business with a reputable merchant. We recommend that you not 'save' your VISA Debit Card number at any merchant locations, or on your PC, especially in an environment where multiple people are sharing the PC. It is also advisable that you close your browser immediately after completing your transaction(s).
Will my VISA Debit Card work outside of the United States?
Yes - your VISA Debit Card will be honored at any merchant worldwide who honors VISA transactions. Please contact the credit union with dates you will be outside the USA as our fraud protection service will possibly pick up the transaction as a possible fraud and put a freeze on your account.
Can I change the Personal Identification Number (PIN) assigned to my VISA Debit Card?
Yes – you will receive instructions to change your PIN when you receive your card.
How can I keep my PIN secure?
Each person is different. To ensure your PIN is not compromised, do not write your PIN number on your card, carry it in your wallet or purse, or have it listed in an address book. Additionally, if you choose to change your PIN, be sure to choose something that is not easily guessed such as an address, phone number, birth date, or anniversary.
Can I list my spouse as joint on my IRA account?
No, the IRA account is an Individual Retirement Account, and by IRS guidelines, there can only be one person listed on this account. You can, however, list your spouse, children, and anyone else you desire as a beneficiary on your IRA.
Can I withdraw money from my spouse’s IRA for them?
No, the only person with access to the IRA account is the individual owner. Again, you can list your spouse, children, and anyone else you desire as a beneficiary on your IRA.
What are the rules for moving my other IRA to an IRA at the credit union?
With a direct transfer (where you tell the other financial institution to send the funds to the credit union for the benefit of your IRA), you have no deadlines or limitations as long as you’re under age 70½ and the money leaves and re-enters the same type of IRA. With a rollover (where the funds are payable to you), you have 60 days to redeposit the money into an IRA. The portion of a traditional IRA distribution that’s not re-deposited to an IRA when the clock runs out becomes taxable income, except to the extent it represents a return of nondeductible IRA contributions.
Rollovers between the same IRA type are also subject to a “once-a-year-rule.” Simply put, you can’t roll over IRA funds if there was a previous rollover from the same IRA in the last 365 days. The rule also bans rollovers from an IRA that has received a rollover in the last 365 days. Keep in mind that if you are 70½ or older, you’re required to receive minimum distributions from your traditional IRA that do not qualify for any rollover or direct transfer.
Can I contribute to an IRA if I already have a retirement plan through my employer?
Yes, you can contribute to a Traditional IRA regardless of whether or not you have an employer-sponsored retirement plan. In fact, IRAs are a great way to pad your savings.
While participation in a retirement plan doesn’t change how much you can contribute to an IRA, it can affect whether or not you’re eligible to deduct your contributions to a traditional IRA on your tax return. But keep in mind that as long as you’ve earned compensation, you can always make nondeductible contributions to a traditional IRA and benefit from tax-deferred earnings.
Am I eligible to contribute to an IRA?
To be eligible for a traditional IRA, you must earn compensation or file a joint income tax return with a spouse who earns compensation. If you want to contribute to a traditional IRA, the only additional requirement is that you are under age 70½. Whether your contributions will be tax-deductible, however, is determined by your participation in a retirement plan and your income.